AvePoint (NASDAQ:AVPT) Price Target Raised to $17.00

by · The Cerbat Gem

AvePoint (NASDAQ:AVPT – Get Free Report) had its target price increased by investment analysts at The Goldman Sachs Group from $15.00 to $17.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target points to a potential downside of 9.53% from the company’s previous close.

Several other equities analysts also recently commented on the company. Citigroup dropped their target price on AvePoint from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Scotiabank increased their target price on AvePoint from $19.00 to $22.00 and gave the company a “sector outperform” rating in a research report on Friday. Finally, William Blair reiterated an “outperform” rating on shares of AvePoint in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.40.

View Our Latest Report on AVPT

AvePoint Stock Down 0.3%

AvePoint stock traded down $0.06 during trading hours on Monday, hitting $18.79. The stock had a trading volume of 638,618 shares, compared to its average volume of 1,240,109. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of -377.62 and a beta of 1.30. AvePoint has a one year low of $8.15 and a one year high of $19.90. The business’s 50 day simple moving average is $15.06 and its 200-day simple moving average is $16.39.

Insider Activity

In related news, insider Brian Michael Brown sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $15.11, for a total transaction of $528,850.00. Following the completion of the sale, the insider now owns 1,312,145 shares of the company’s stock, valued at $19,826,510.95. This trade represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 26.19% of the company’s stock.

Institutional Investors Weigh In On AvePoint

Several large investors have recently added to or reduced their stakes in the business. Barclays PLC grew its stake in AvePoint by 358.5% in the third quarter. Barclays PLC now owns 206,358 shares of the company’s stock valued at $2,428,000 after acquiring an additional 161,354 shares during the period. Empirical Asset Management LLC bought a new position in shares of AvePoint in the fourth quarter valued at approximately $264,000. Sheets Smith Wealth Management lifted its holdings in shares of AvePoint by 17.0% in the fourth quarter. Sheets Smith Wealth Management now owns 43,481 shares of the company’s stock valued at $718,000 after purchasing an additional 6,329 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of AvePoint by 31.2% in the fourth quarter. SG Americas Securities LLC now owns 30,060 shares of the company’s stock valued at $496,000 after purchasing an additional 7,141 shares in the last quarter. Finally, Southland Equity Partners LLC bought a new position in shares of AvePoint in the fourth quarter valued at approximately $197,000. Institutional investors and hedge funds own 44.49% of the company’s stock.

About AvePoint

(Get Free Report)

AvePoint, Inc provides cloud-native data management software platform in North America, Europe, Middle East, Africa, and Asia Pacific. It also offers software-as-a-service solutions and productivity applications. The company offers modularity and cloud services architecture to address critical challenges and the management of data to organizations that leverage third-party cloud vendors, including Microsoft, Salesforce, Google, AWS, Box, DropBox, and others; license and support; and maintenance services.

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